Here are the results and some of my commentary about the poll I ran last week.
I want to know what percentage of annual revenue QuickBooks consultants earn by performing QuickBooks cleanup work. With 16 people responding, the poll didn’t get as much traction as I hoped:
NEW POLL, please RT
Regardless of your firm's size, if your firm offers QuickBooks services this poll is for you. This is for bookkeepers, accountants, CPAs, other consultants, etc.
How much of your firm's annual revenue in 2018 was from performing QuickBooks cleanup services?
— Jennifer (@AccountingJenn) March 4, 2019
Not long after I launched the poll, I realized a mistake. I should have had zero as its own choice, because now I don’t know which percentage of the respondents earned money from those services verses those that didn’t. I plan to run this poll, or one like it, in the future. So I won’t make that mistake again.
I thought that the second choice (16%-30%) would be the most popular, but I was wrong about that. In my own practice, it was about 25%.
Here is what I think is super interesting: even though the results can’t be generalized, 6% said that 50% or more of their annual revenue in 2018 was from performing those kinds of services. Out of 18 respondents, that is just one person. But still. How many other firms make that much of their revenue performing those services? How many firms fit into the other (non-zero) categories?
What would small businesses do with this information?
These are important questions. Many small business owners actually think that QuickBooks turns them into bookkeepers or accountants. Then they–collectively–spend some unknown amount of money paying others to fix their mistakes. I’m just imagining the marketing possibilities with this information, assuming I can attach a dollar amount to it. Since this is revenue to the analyst/consultant, it is an expense to the small business. So I think we could say something like this: “Small businesses spend $XXM annually having accounting professionals fix their QuickBooks mistakes.” Logically it makes sense but I might be missing something. I’ll have to ponder it more.
I want small business owners to be well-informed. If the dollar amount is significant, what might happen to that market if this information was widely known?